ASIC has cancelled the Australian financial services (AFS) licence of APBG Capital Pty Ltd (APBG Capital). The license authorised APBG Capital to deal in interests in managed investment schemes and provide general financial advice to wholesale clients. ASIC cancelled the license because APBG Capital has ceased to carry on a financial services business. APBG Capital...
Author: EMA Investments
Home » Archives for EMA Investments » Page 265
Post
ESMA publishes latest edition of its newsletter
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of its Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focused in May on various important topics such as the European Supervisory Authorities (ESAs) Progress Reports on Greenwashing and mainly...
Post
Statement following Upper Tribunal decision in case against 3 individuals
We have already had a successful outcome in this case, fining Julius Baer over £18m. The firm allowed improper commission payments of around $3m (USD) to be made to a finder and its failures created circumstances where financial crime could flourish. There were obvious signs that the arrangements between Julius Baer and the finder were...
Post
Three individuals face charges for unauthorised sale-and-rent-back schemes
The FCA has started criminal proceedings against 3 people for carrying out regulated activity without authorisation. Specifically, the FCA alleges: That between 1 September 2014 and 7 November 2018, Rajinder Gill and Jetinder Sandhu offered loans and sale-and-rent-back agreements on behalf of Secure Property Consultants Ltd (trading as Secure Property Buyers and Secure Property Sales)...
Post
Former CFO of Big Un Limited charged with insider trading
The former CFO of Big Un Limited, Mr Andrew Scott Corner, has appeared via his lawyer in the Downing Centre Local Court charged with insider trading contrary to s1043A(1) of the Corporations Act. ASIC alleges that Mr Corner was in possession of inside information in late 2017 when he procured two private companies to sell...
Post
ASIC invites Australian entities to assess their cyber resilience
ASIC-regulated entities, including publicly listed companies and other entities holding licences and authorisations, are invited to take part in a survey to measure cyber resilience in Australia’s corporate and financial markets. The ASIC cyber pulse survey will be one of the largest conducted into Australia’s cyber resilience, and will measure entities’ current cyber security and...
Post
FCA introduces tough new rules for marketing cryptoassets
Those marketing cryptoassets to UK consumers will need to introduce a cooling-off period for first time investors from 8 October 2023, under new advertising rules announced by the FCA. As part of a package of measures designed to ensure those who buy crypto understand the risk, ‘refer a friend’ bonuses will also be banned. The...
Post
Federal Court winds up MKS Property and restrains director
The Federal Court has ordered that unlicensed financial advisor Monica Kaur be permanently restrained from carrying on a financial business and that her unregistered managed investment scheme be wound up. Ms Kaur and her husband, Sadu Singh, were directors at various times of MKS Property Investments/Developments Pty Ltd (MKS Property). Between March 2017 and December...
Post
ASIC consults on remaking ‘sunsetting’ class orders on unit pricing discretions for managed investment schemes
ASIC is seeking feedback on proposals to remake managed investment scheme unit pricing class orders that are due to expire (‘sunset’) on 1 October 2023. The proposals relate to the following class orders: [CO 13/655] – Provisions about the amount of consideration to acquire interests and withdrawal amounts not covered by ASIC Corporations (Managed investment...
Post
The Australian Securities and Investments Commission cyber pulse survey is an essential tool for directors to assess their organisation’s cyber resilience, writes ASIC Commissioner Danielle Press.
Recent cyber attacks have exposed the personal data of millions of Australian customers – acting as a wake-up call for directors. With cyber attacks becoming more frequent and complex, does your organisation have the cyber resilience to protect against and recover from an attack? To help determine your organisation’s cyber capability, we invite you to...
Civil rights law practice area legal advice is the application of abstract principles of law to the concrete facts of the client’s case.